Some of the examples of Liabilities are Accounts payable, Expenses payable, Salaries payable, Interest payable. These accounts are like the money to be paid to the customer on the demand of the customer instantly or over a particular period of time. These accounts for an individual are referred to as the Assets.Click to see full answer. Subsequently, one may also ask, what are the examples of liabilities? Examples of liability accounts reported on a company’s balance sheet include: Notes Payable. Accounts Payable. Salaries Payable. Wages Payable. Interest Payable. Other Accrued Expenses Payable. Income Taxes Payable. Customer Deposits. Also Know, which of the is an example of business liability? Business liability is usually money owed by a business for the purchase of an asset. For example, you might buy a company car for business use, and when you finance the car, you end up with a loan – that is, a liability. An expense is an ongoing payment for something that has no tangible value, or for services. Furthermore, which is a liability account? A liability account is a general ledger account in which a company records its debt, obligations, customer deposits and customer prepayments, certain deferred income taxes, etc. that are the result of a past transaction. The lenders, vendors, suppliers, employees, tax agencies, etc.What are some examples of assets and liabilities? Examples of assets and liabilities bank overdrafts. accounts payable, eg payments to your suppliers. sales taxes. payroll taxes. income taxes. wages. short term loans. outstanding expenses.
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